GM tigers, Web3 is filled to the brim with dynamic founders, and we called one of them for our recent Twitter Spaces session. Myrtle Anne is a serial entrepreneur who’s been working in the tech space for the last 8 years. She recently received the Certificate of Recognition as the Outstanding Crypto Entrepreneur of the Year. In this session, we talk with Myrtle about her new project, a web3 game called Placewar, and other interesting topics like viable tokenomic models, the importance of caring for the community, the challenges of being a founder in web3, and much more. Don’t worry if you missed the conversation, though; we've got the best insights for you right here.
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First up introduction,
Placewar is a new Web3 game on the block. However, much like many Web3 titles, it’s much more than a game; it's a "gamified" internet culture metaverse. in which you can take over territories, battle competitors with epic tanks, create amazing art, or make some new internet friends.
Myrtle’s background and the beginning of Placewar
As we mentioned above, Myrtle has been working in the tech space for the last 8 years with some of the best companies in the world. Her earlier venture, Blocktides, is an award-winning PR and marketing firm that has conducted over 100 successful blockchain summits across Asia. However, right as the pandemic brought the global economy to a sweeping halt, she had a breakthrough: that everything was eventually going to be digital. This prompted a journey toward creating a community of digital natives. Placewar is, in a sense, a digital home base for the community Myrtle has built in the last three years.
The Idea behind Placewar
Placewar was born in 2022, backed by some of the biggest investors in the crypto space. The game has acquired a huge community of over 400,000 players in the span of just one year. Placewar has built quite a following in a short amount of time. Myrtle believes in organic growth for the project and doesn't prefer paid marketing so much. Again, Placewar is not your typical run-of-the-mill P2E game; it's a gamified metaverse for digital natives.
In Gamefi, there are a lot of tokenomics that are not working, and Placewar is going to make some major changes to its tokenomic structure based on market conditions. Furthermore, as you might know, depending on other crypto exchanges for their asset sales exposes a project to unnecessary risks. To tackle this, the folks at PlaceWar are creating their own native marketplace that will go live this year.
Interestingly, Placewar will have a dual token economy. Here’s why: the single token economy is vulnerable to getting caught in a death spiral; that’s why having a two-token economy is a much more prudent approach. While it’s not confirmed yet, it’s likely that the game will have a predictable supply of tokens. This is because if the supply of a Web3 game is not predictable, it makes it difficult for institutional investors to come in before there’s a lot of uncertainty about the game’s future performance.
On Community Building
"When it comes to building the community, the best strategy is to really care about the members," according to Myrtle. She says founders actually need to practice what they preach, listen to their community, and deliver on what they promised. In marketing, projects really need to have consistency, even if the response to your efforts is lackluster. Keep trudging along; eventually you’ll find your tribe.
Challenges and difficulties
Being a founder in Web3 is hard, folks. Especially when the whole industry gets under the scrutiny of the market due to the actions of a single person or a company. Some of the recurring ones include coming up with the best strategies for marketing during the bear market, keeping the morale of the team high, and dealing with constant change. These issues are not going anywhere, folks, but we need to remember that building in Web3 is a long-term game, bull and bear cycles come and go, and valuable products and services will always be in demand. Your strategy during the bear market to grow your skill stack and knowledge, build something useful that can go big once the bull market returns.
Woah, what a dynamic session this was. Myrtle is an amazing founder who deeply cares about the products they are building and the people who’ll be using them. We recommend you check out Placewar, it's a great project. Also, it's a great time to join PlaceWar, as they’re coming up with a lot of new initiatives and actively seeking suggestions from the community. So if you’re interested in contributing to the future direction of their project, head to their discord right now.